Last time the Fed launched a program to repurchase short-term Treasuries (QE at the minimums) was late 2019. Then the Covid crash hit, and after that QE returned to normal and markets hit new highs 🙄

An analogy: a fundamental change in Fed policy would come after Powell is replaced by Trump’s protégé in May 2026 💸

BTC update: yesterday it stayed in a sideways range, unable to break above the $94k ceiling. Skeptics are already drawing a bearish flag with a target near $70,000 🐻

Tom Lee bought another 33,504 ETH (~$112 million), and the whale 1011short increased his Ether long to about $392.5 million. Everyone really wants these bets to pay off 🐳

#cryptomorning